Specifically, the following is a detailed description of overdue interest and liquidated damages of credit cards:
1. Calculation method of interest: The overdue interest of credit cards is usually calculated at the daily interest rate, that is, the corresponding interest is calculated according to the daily balance of the overdue amount. The specific interest rate varies according to the credit card contract of each bank.
2. Interest calculation formula: interest = overdue amount × daily interest rate × overdue days. Among them, the overdue amount refers to the amount that is not repaid on time on the credit card, the daily interest rate is the interest rate stipulated by the bank, and the number of overdue days is the number of days from the repayment deadline to the actual repayment date.
3. Amount of liquidated damages: liquidated damages shall be calculated according to a certain proportion of overdue amount. The specific proportion of liquidated damages varies according to different credit card contracts, and is usually part of the overdue repayment amount.
In short, overdue credit cards will lead to interest and liquidated damages. Interest is calculated according to the overdue amount and number of days, and generally calculated according to the daily interest rate. Liquidated damages are penalties for cardholders who violate credit card contracts, and are calculated according to a certain proportion of overdue repayment amount.
Extended data:
Overdue repayment will have a negative impact on personal credit record, personal credit rating and future credit application. Therefore, when using credit cards, timely repayment is very important. If there is any overdue situation, you should consult the bank as soon as possible to pay off the arrears, so as to avoid further economic losses and credit record damage.